Athens is under political pressure. Government sources state that it is under duress by foreign forces to pressure Greece to take austerity measures to deal with the recession such as wage and pension cuts, mass dismissals etc. At the eleventh hour of the Eurogroup meeting on April 24, pressure on Greece to conform is being amplified with a number of scenarios concerning Greece leaving the eurozone.

German Finance Minister Wolfgang Schaeuble decided to abandon his somewhat discreet stand in an interview with Bloomberg from Washington D.C. on Wednesday. He warned that Athens has until the end of June to come to an agreement with its international creditors so that money benchmarked for Greece can be unblocked otherwise Greece would not be able to survive.

Concerns for the Greek economy were also expressed through a new downgrade of Greek finances by credit house S&P that deflated Greece from a B- to a CCC+. This is further indication that more reforms need to be made.